Average 30-Year Mortgage Unchanged from All-time Record Low
February 16, 2012
The average fixed mortgage rates remain unchanged amid mixed consumer sentiment data.
According to Freddie Mac’s Primary Mortgage Survey, the average 30-year fixed-rate mortgage has remained at its all-time record-breaking low since the first week of February, below 4 percent for the past 11 weeks, and below 5 percent for the past 52 weeks dating back to Feb. 17, 2011.
The survey showed the 30-year fixed-rate mortgage (FRM) remained at 3.87 percent with an average 0.8 point for the week ending Feb. 16. Last year at this time, the 30-year FRM averaged 5 percent.
Meanwhile, the 15-year FRM this week averaged 3.16 percent with an average 0.8 point, matching last week when it also averaged 3.16 percent. A year ago at this time, the 15-year FRM averaged 4.27 percent.
The 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.82 percent this week, with an average 0.8 point, down from last week when it averaged 2.83 percent. A year ago, the 5-year ARM averaged 3.87 percent.
The 1-year Treasury-indexed ARM averaged 2.84 percent this week with an average 0.6 point, up from last week when it averaged 2.78 percent. At this time last year, the 1-year ARM averaged 3.39 percent.